Clearing
What Are Clearing and Settlement?
Clearing: the transmission of transfer orders sent to the system, mediating their mutual delivery, obtaining authorization prior to settlement in some systems, and netting payment orders.
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"Settlement"
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Laws & Regulations
What Is the Regulation on the Oversight of Payment and Securities Settlement Systems?
The purpose of this regulation is to set the procedures and principles for overseeing payment and securities settlement systems, including information requests, information systems, self-assessment and independent audits.
Clearing
What Are the Field Types and Field Formats Used in the YTH (Domestic Clearing and Settlement) System?
The YTH (Domestic Clearing and Settlement) System handles the clearing and settlement between two banks when a transaction is made at another bank's POS or ATM with a card from a different bank. Participants submit records to the YTH system, and...
Laws & Regulations
What Is Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions? What Does It Cover?
The purpose of Law No. 6493 is to regulate the procedures and principles for payment and securities settlement systems, payment services, payment institutions and electronic money institutions.
Laws & Regulations
What Is the Regulation on the Activities of Payment and Securities Settlement Systems?
The purpose of this regulation is to set the procedures and principles for the operating licenses and activities of the operators of payment and securities settlement systems.
Laws & Regulations
What Is the Communiqué on Information Systems Used in Payment and Securities Settlement Systems?
This communiqué regulates the procedures and principles for the information systems used in running payment and securities settlement systems, from information security to business continuity.
Clearing
What Are the Message Formats of the Domestic Clearing and Settlement System?
The Domestic Clearing and Settlement System (YTH) settles and clears transactions between two banks when a card from one bank is used at another bank's POS or ATM. Participants submit records that are cleared daily and multilaterally netted and reconciled.
Payment Systems
Where Can I Find the Regulations Under the Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions?
You can find the regulations under Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions on the BRSA website. They are updated as new regulations are introduced.
Payment Systems
What Is Law No. 7192 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions? What Does It Change?
Law No. 7192 amends Law No. 6493 and brings changes on payment services, e-money and open banking, including the transfer of regulatory and supervisory powers from the BRSA to the CBRT and the addition of PSD2-style services.
ISO 8583
ISO 8583 Field Descriptions (F9)
DE 9, Conversion Rate, Settlement, carries the settlement conversion rate. It is an 8-digit numeric value: the first digit shows the decimal position from the right and the next 7 digits show the value.
Clearing
What are the Clearing Types?
In card transactions via POS/ATM, when the card-issuing bank differs from the POS/ATM bank (Not Onus), the transaction is subject to clearing. Below, POS can also mean ATM. Is the clearing system a single type? No...
Merchant & POS
What Happens Behind the Scenes When a QR Code Is Scanned? | Closed-Loop Payments #2
In the first post I explained what closed-loop payment systems are and how they differ from open-loop ones. Many of the replies I received boiled down to one question: how do these systems actually work behind the scenes once a QR code is scanned?